Tax Planning: Safe Harbour Advice from the ATO (marks: 50%)
As a taxpayer, you have the right to arrange your financial affairs to keep your tax to a minimum. Tax planning is legitimate when you do it within the letter and the spirit of the law. However, how does a taxpayer (or their tax planning advisor) determine whether or not a tax planning arrangement is lawful?
Answer this question with reference to tax office information and processes that may assist tax planning clients. Provide at least two examples. (approx. 1,500-2,000 words)